Germany Smart Healthcare Market Size, Share, and COVID-19 Impact Analysis, By Product (Electronic Health Record, Smart Medication Delivery, Telemedicine, RFID systems, mHealth, and Others), By Application (Health Data Storage, Monitoring and Treatment, Inventory Management, and Others), By End-User (Hospitals & ASCs, Homecare Settings, and Others), and Germany Smart Healthcare Market Insights, Industry Trend, Forecasts to 2033

Industry: Healthcare

RELEASE DATE Apr 2024
REPORT ID SI4136
PAGES 200
REPORT FORMAT PathSoft

Germany Smart Healthcare Market Insights Forecasts to 2033

  • The Germany Smart Healthcare Market Size was valued at USD 14.95 Billion in 2023.
  • The Market is Growing at a CAGR of 17.79% from 2023 to 2033
  • The Germany Smart Healthcare Market Size is expected to reach USD 76.85 Billion by 2033

 

Germany Smart Healthcare Market

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The Germany Smart Healthcare Market Size is anticipated to exceed USD 76.85 Billion by 2033, growing at a CAGR of 17.79% from 2023 to 2033. The growing adoption of telemedicine and mHealth, recent legislation in digital health law, electronic health records (EHR), and significant R&D investments are driving the growth of the smart healthcare market in Germany.     

 

Market Overview

Smart healthcare refers to the use of various technologies such as wearable devices, the Internet of things, and mobile Internet devices to undertake various healthcare procedures such as the tracking of vital parameters, and also doctor consultations. It is a technology that permits the communication and interaction between healthcare sector professionals with colleagues, devices, and patients in the healthcare delivery setup. To improve remote healthcare facilities, various electronic, mechanical, and biosensors are used in the healthcare delivery setup. By utilizing cutting-edge information technologies such as big data, cloud computing, artificial intelligence (AI), and the Internet of Things (loT), smart healthcare transforms the traditional medical system and increases its overall effectiveness, convenience, and personalization. Smart healthcare facilitates self-management of health with personalized medical services. In the research field, smart healthcare services reduce the cost of research as well as research time with improved efficacy.   

 

Report Coverage

This research report categorizes the market for the Germany smart healthcare market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the smart healthcare market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the smart healthcare market.

 

Germany Smart Healthcare Market Report Coverage

Report CoverageDetails
Base Year:2023
Market Size in 2023:USD 14.95 Billion
Forecast Period:2023 - 2033
Forecast Period CAGR 2023 - 2033 :5.79%
2033 Value Projection:USD 76.85 Billion
Historical Data for:2019 - 2022
No. of Pages:200
Tables, Charts & Figures:110
Segments covered:By Product, By Application, By End-User.
Companies covered:: Siemens Healthineers AG, Abbott, GE Healthcare, Cisco, IBM, Cerner Corporation, Olympus Corporation, Allscripts Healthcare Solutions, Inc., Resideo Technologies Inc., and Others
Pitfalls & Challenges:COVID-19 Empact, Challenge, Future, Growth, & Analysis

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Driving Factors

The growing adoption of telemedicine and mHealth among the people promoting digital health market that ultimately led to drive the market growth of smart healthcare. Further, rising awareness about various advantages of new technologies in healthcare and recent developments in the legislature to boost adoption of smart healthcare. Significant investments in R&D and the rising involvement of major and emerging players in the development of various technologies are expected to promote market growth.  

 

Restraining Factors

The rising concern about data privacy and strong concerns associated with breaches of confidential data leading to restraining the smart healthcare market. 

 

Market Segmentation

The Germany Smart Healthcare Market share is classified into product, application, and end-user.

 

  • The telemedicine segment is expected to hold a significant share of the Germany smart healthcare market during the forecast period.   

The Germany Smart Healthcare market is segmented by product into electronic health record, smart medication delivery, telemedicine, RFID systems, mhealth, and others. Among these, the telemedicine segment is expected to hold a significant share of the Germany smart healthcare market during the forecast period. The growing adoption of telemedicine among the general population in Germany is likely to enhance the market growth of smart healthcare in the telemedicine segment. The desirable changes in digital health law in Germany have further promoted the smart healthcare market.     

 

  • The monitoring and treatment segment is expected to hold the largest share of the Germany smart healthcare market during the forecast period.       

Based on the application, the Germany smart healthcare market is divided into health data storage, monitoring and treatment, inventory management, and others. Among these, the monitoring and treatment segment is expected to hold the largest share of the Germany smart healthcare market during the forecast period. The growing adoption of new technology and the launch of new products leads to the enhancement of the smart healthcare market in the monitoring and treatment segment.

 

  • The Hospitals & ASCs segment is expected to hold the largest share of the Germany smart healthcare market during the forecast period.       

Based on the end-user, the Germany smart healthcare market is divided into hospitals & ascs, homecare settings, and others. Among these, the hospitals & ASCs segment is expected to hold the largest share of the Germany smart healthcare market during the forecast period. The rising number of hospitals and ASCs with the availability of digital healthcare solutions led to the increasing smart healthcare market.

 

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Germany smart healthcare market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

 

List of Key Companies

  • Siemens Healthineers AG
  • Abbott
  • GE Healthcare
  • Cisco
  • IBM
  • Cerner Corporation
  • Olympus Corporation
  • Allscripts Healthcare Solutions, Inc.
  • Resideo Technologies Inc.
  • Others

 

Key Target Audience

  • Market Players
  • Investors
  • End-users
  • Government Authorities 
  • Consulting And Research Firm
  • Venture capitalists
  • Value-Added Resellers (VARs)

 

Recent developments

  • In February 2019, Resideo upgraded telehealth software platform, improving remote patient monitoring.

 

  • In October 2019, Cerner, Amazon Web Services partner on new cloud-based cognitive health platform in order to incorporate artificial intelligence to improve usability and provide predictive insights for patient care.

 

Market Segment

This study forecasts revenue at Germany, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Germany Smart Healthcare Market based on the below-mentioned segments:

 

Germany Smart Healthcare Market, By Product

  • Electronic Health Record
  • Smart Medication Delivery
  • Telemedicine
  • RFID systems
  • mHealth
  • Others

 

Germany Smart Healthcare Market, By Application

  • Health Data Storage
  • Monitoring and Treatment
  • Inventory Management
  • Others

 

Germany Smart Healthcare Market, By End-User

  • Hospitals & ASCs
  • Homecare Settings
  • Others

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